Hohenstein invests EUR1.3m into Sizekick AI solution

Testing and certification services provider, Hohenstein, has announced an EUR1.3m investment in artificial intelligence (AI) based sizing tech firm Sizekick, which it says will drive down return rates and lower the industry’s carbon footprint.

Sizekick was founded in the summer of 2022 and Hohenstein’s investment will enable the product to launch in 2023.

Sizekick will enable online shoppers to find the right clothing size in just a few seconds via smartphone. This not only improves the buying experience when shopping online, but above all helps to avoid unnecessary returns and the associated CO2 emissions.

Recent figures suggest in the US, average e-commerce return rates jumped to 20.8% in 2021 with an estimated US$671bn worth of goods being returned.

Escalating eCommerce returns reduce profits by hiking up retailers’ delivery and warehousing spend (increasing costs by as much as 21% of a product’s order value). And there’s also the problem that returned inventory negatively impacts the environment, with annual carbon dioxide emissions from transporting returned goods in the US estimated to equate to having 3m more cars on the road.

Sizekick uses artificial intelligence and computer vision technology to recommend the right clothing size to customers in partner web shops. Fashion and sports brands, but also multi-brand shops or marketplaces can integrate the “Sizekick button” in the online shop. Sizekick offers its solution as Software-as-a-Service (SaaS).

“The strategic partnership with Hohenstein enables us, as a new AI solution, to meet the high demands of the market right from the start and to assume the role of technology leader. Our artificial intelligence is already learning thanks to Hohenstein with its extensive database of 3D body scans. This is an extremely big benefit for our AI,” highlights Jake Lydon, CTO at Sizekick.

Stefan Mecheels, CEO and owner of Hohenstein, adds: “With Sizekick, brands and retailers will have the opportunity to offer their online customers well-founded size decisions for clothing. This is an important step for the entire fashion industry to make online retail more sustainable with fewer size-related returns.”

This article is republished from Just Style under a Creative Commons license. Read the original article.

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